Eigen RadarEconomics
Archive
Analysis

US housing starts estimate falls to a 1,221,000 annual pace

US housing starts were estimated at an annualised 1,221,000 in September, below the revised August pace of 1,288,000. The estimated monthly decline has a wide uncertainty interval spanning zero. Building permits also edged lower, including a sharper fall in single-family authorisations, while completions rose on a monthly estimate whose direction is likewise uncertain.

Economics & Markets··Night
Timber framing, a concrete slab and stacked lumber at a US housing site, with a distinct sided house farther along the road.

September starts estimate drops from revised August

US housing starts were estimated at a seasonally adjusted annual rate of 1,221,000 in September, compared with the revised August rate of 1,288,000. The monthly point estimate fell 5.2 per cent. Its uncertainty interval of plus or minus 11.8 per cent spans zero, leaving the direction of the change uncertain.[1], [2]

The US Census Bureau estimated single-family starts at 859,000, against August’s 900,000. Starts in buildings containing at least 5 homes were estimated at 349,000. Total starts were 7.4 per cent below September last year, with a plus-or-minus 11.5 per cent interval that also spans zero.[1]

Single-family permits decline

Building permits were at an annualised 1,400,000, down 0.2 per cent from revised August’s 1,403,000 and 3.0 per cent from September last year. Single-family authorisations fell 4.0 per cent to 845,000. Permits for homes in buildings with at least 5 units were running at an annual rate of 503,000.[1]

Completions reach a 1,192,000 annual pace

Completions were estimated at an annualised 1,192,000. The monthly point estimate was 2.2 per cent above August, with a plus-or-minus 10.8 per cent interval that leaves its direction uncertain. Single-family completions were 840,000, while completions in buildings with at least 5 units were 339,000. Permits, starts and completions cover separate stages of construction.[1]

References

  1. News sourceUS Census BureauUS housing starts fall to an annualised 1 million 221 thousand in September↩1↩2↩3↩4
  2. News sourceMarketReviewUS housing starts fall to an annualised 1 million 221 thousand in September↩
Chip wars and the supply chainCentral banks and the rate cycleEnergy transition and climate

More analysis from this desk

View all Brief analyses from the Economics & Markets desk →